The landscape of customer profiling and engagement is rapidly evolving in 2023, influenced by various factors, including healthcare shifts, supply chain transformations, and the rise of customer-facing platforms. Here's a comprehensive look at the latest developments in these areas:
1. Healthcare and Corporate America's Shift in Customer Listening
Realization of Interdependence: Healthcare leaders increasingly understand the interdependence between business outcomes and customer listening. The trend in Google searches for terms like "customer experience," "patient experience," and "employee experience" indicates a growing emphasis on human-centered approaches.
CXM 360 Conference Insights: The CXM 360 Conference highlighted a customer experience (CX) narrative shift. The focus is now on CX as a strategic partner across businesses, leveraging all customer data sources for strategic decisions and democratizing the voice of the customer.
Four Essentials for the New Era:
Mindset: Stronger conviction in linking business outcomes with customer feedback.
Data Source: Emphasis on unsolicited, unstructured data, leveraging AI for scale.
Data-backed Storytelling: Crafting and using customer stories to drive decision-making.
Action: Shifting from conventional surveys to actions based on customer conversations.
2. Navigating the 'New Customer' in Supply Chain
New Customer Behaviors: Today's customers are more informed and values-driven, demanding transparency, sustainability, and personalized experiences. This shift redirects supply chain priorities, as seen in the farm-to-table movement's impact on food suppliers.
Transformation in Supply Chains: Consumer behavior changes have evolved from linear supply chain models to dynamic, responsive demand chains. The dramatic increase in online shopping and demand for personalized experiences necessitates a digital-first approach and the use of advanced analytics and AI.
Strategies for Adaptation:
Digital Transformation: Investment in digital infrastructure for e-commerce.
Transparency and Visibility: Using IoT and blockchain for traceability.
Sustainable Practices: Redesigning operations for minimal environmental impact.
Customer-Centric Personalization: Tailoring experiences through data analytics.
3. Leveraging Customer-Facing Platforms
Digital Transformation: Companies increasingly use third-party platforms for front-end functions, offering streamlined customer experiences.
Benefits of Customer-Facing Platforms:
Cost-Effectiveness: Avoiding high upfront investments in digital interfaces.
Increased Market Reach: Accessing established customer bases.
Data Analytics: Gaining insights from user data to improve services.
Enhanced Brand Image: Meeting customer expectations for seamless online experiences.
Key Considerations:
Control Over the Platform: Balancing control and visibility of platform development.
Customer Experience Control: Aligning platform delivery with brand values.
Competitive Dynamics: Differentiating offerings and maintaining competitive advantages on shared platforms.